SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 3
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Coram Healthcare Corporation
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(Name of Issuer)
Common Stock (par value $0.001 per share)
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(Title of Class of Securities)
218103109
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(CUSIP Number)
Barbara Sherman, Esq.
Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004
(212) 902-1000
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(Name, address and telephone number of person authorized
to receive notices and communications)
December 29, 2000
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(Date of Event which requires Filing of this Statement)
If a filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
<PAGE>
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CUSIP NO. 218103109
--------------------
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Goldman Sachs Credit Partners, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO [See Item 3.]
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 20,927,101
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
20,927,101
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,927,101
--------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.7%
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14. TYPE OF REPORTING PERSON
PN
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<PAGE>
--------------------
CUSIP NO. 218103109
--------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Goldman Sachs Global Holdings L.L.C.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
OO [See Item 3.]
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 20,927,101
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
20,927,101
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,927,101
--------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
-3-
<PAGE>
--------------------
CUSIP NO. 218103109
--------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Goldman Sachs Group, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF - OO [See Item 3.]
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 21,969,329
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
21,969,329
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,969,329
--------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
HC-CO
--------------------------------------------------------------------------------
-4-
<PAGE>
--------------------
CUSIP NO. 218103109
--------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Goldman, Sachs & Co.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF - OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
[ X ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7. SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 21,969,329
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
21,969,329
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,969,329
--------------------------------------------------------------------------------
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.7%
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14. TYPE OF REPORTING PERSON
BD-PN-IA
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<PAGE>
AMENDMENT NO. 3
TO
SCHEDULE 13D
RELATING TO THE PREFERRED STOCK OF
CORAM, INC., A WHOLLY OWNED SUBSIDIARY OF
CORAM HEALTHCARE CORPORATION
Goldman Sachs Credit Partners, L.P. ("GSCP"), Goldman Sachs Global Holdings
L.L.C. ("GSGH"), Goldman, Sachs & Co. ("GS&Co."), and The Goldman Sachs Group,
Inc. ("GS Group") hereby amend the statement on Schedule 13D dated July 14,
1998 relating to common stock, par value $0.001 per share (the "Common Stock"),
of Coram Healthcare Corporation (the "Company").
Item 2 is amended and supplemented to reflect the following:
As of May 7, 1999, The Goldman Sachs Group, L.P. was merged with
and into GS Group, with GS Group as the surviving entity. GS Group is a
Delaware corporation and a holding company that (directly or indirectly
through subsidiaries or affiliated compoanies or both) is a leading
investment banking organization.
Schedule I included in Amendment No. 2 to the initial Schedule 13D
is hereby replaced in its entirety by Schedule I hereto, which is
incorporated herein by reference. Schedule II included in the initial
Schedule 13D is hereby replaced in its entirety by Schedule II hereto,
which is incorporated herein by reference.
Schedule III included in the initial Schedule 13D is hereby
supplemented by Schedule III hereto, which is incorporated herein by
reference.
Items 3, 4 and 6 are hereby amended and supplemented to reflect the following:
On December 29, 2000, pursuant to a Chapter 11 proceeding in the
United States Bankruptcy Court for the District of Delaware, GSCP with
Foothill Capital Corporation, Cerberus Partners L.P. and their respective
affiliates (the "Holders") exchanged certain Series A Notes (the "Series A
Notes") issued by Coram, Inc. and guaranteed by its parent, Coram
Healthcare Corporation (the "Company"), and the subsidiaries of Coram, Inc.
named therein, for shares of a new series of Preferred Stock of Coram, Inc.
The Holders exchanged $109,325,976 aggregate principal amount of
Notes for 905 shares of Preferred Stock of Coram, Inc.
In addition, on December 29, 2000, the Holders entered into an
agreement, pursuant to which the Securities Exchange Agreement dated as of
May 6, 1998 was amended, that extended the maturity date and modified the
coupon rate of the remaining Series A Notes.
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1 Neither the present filing nor anything contained herein shall be
construed as an admission that any Filing Person constitutes a "person"
for any purposes other than Section 13(d) of the Securities Exchange
Act of 1934 or that the Filing Persons constitute a "group" for any
purpose.
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<PAGE>
Following the effectiveness of a Chapter 11 plan of reorganization
for Coram, Inc., each share of Preferred Stock shall have one vote, subject
to adjustment for dilution, and shall vote together with the shares of
Common Stock on all matters submitted to a vote to the stockholders of
Coram, Inc. Preferred Stock will initially constitute 47.5% of total voting
power of Coram, Inc. While Coram, Inc.'s Chapter 11 case is pending, the
Holders will have the right to appoint one out of seven directors to Coram,
Inc.'s board of directors, and following the effectiveness of a Chapter 11
plan of reorganization, Holders shall have the right to appoint three
directors.
Item 7 is hereby amended and restated as follows:
Item 7. Material to be filed as Exhibits.
--------------------------------
Exhibit
Number Description
------- -----------
1 Not applicable.
2A The Exchange Agreement dated December 29, 2000, filed as
Exhibit 99.1.
2B The Stockholder Agreement dated December 29, 2000, filed
as Exhibit 99.2.
3A Amendment No. 3 to the Securities Exchange Agreement,
dated November 15, 1999, filed as Exhibit 99.3.
3B Amendment No. 4 to the Securities Exchange Agreement,
filed as Exhibit 99.4.
4A Power of Attorney, dated December 8, 2000, relating to
The Goldman Sachs Group, Inc., filed as Exhibit 24.1.
4B Power of Attorney, dated December 8, 2000, relating to
Goldman, Sachs & Co., filed as Exhibit 24.2.
4C Power of Attorney, dated January 3, 2001, relating to
Goldman Sachs Global Holdings, L.L.C., filed as
Exhibit 24.3.
4D Power of Attorney, dated January 3, 2001, relating to
Goldman Sachs Credit Partners, L.P., filed as
Exhibit 24.4.
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<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.
Dated: January 4, 2001
THE GOLDMAN SACHS GROUP, INC.
By:
---------------------------------
Name: Roger S. Begelman
Title: Attorney-in-fact
GOLDMAN, SACHS & CO.
By:
---------------------------------
Name: Roger S. Begelman
Title: Attorney-in-fact
GOLDMAN SACHS CREDIT PARTNERS, L.P.
By:
---------------------------------
Name: Roger S. Begelman
Title: Attorney-in-fact
GOLDMAN SACHS GLOBAL HOLDINGS L.L.C.
By:
---------------------------------
Name: Roger S. Begelman
Title: Attorney-in-fact
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<PAGE>
EXHIBIT INDEX
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Exhibit
Number Description
------- -----------
1 Not applicable.
2A The Exchange Agreement dated December 29, 2000, filed as
Exhibit 99.1.
2B The Stockholder Agreement dated December 29, 2000, filed
as Exhibit 99.2.
3A Amendment No. 3 to the Securities Exchange Agreement,
dated November 15, 1999, filed as Exhibit 99.3.
3B Amendment No. 4 to the Securities Exchange Agreement,
filed as Exhibit 99.4.
4A Power of Attorney, dated December 8, 2000, relating to
The Goldman Sachs Group, Inc., filed as Exhibit 24.1.
4B Power of Attorney, dated December 8, 2000, relating to
Goldman, Sachs & Co., filed as Exhibit 24.2.
4C Power of Attorney, dated January 3, 2001, relating to
Goldman Sachs Global Holdings, L.L.C., filed as
Exhibit 24.3.
4D Power of Attorney, dated January 3, 2001, relating to
Goldman Sachs Credit Partners, L.P., filed as
Exhibit 24.4.
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<PAGE>
SCHEDULE I
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The name of each director of The Goldman Sachs Group, Inc. is set forth
below.
The business address of each person listed below except John L.
Thornton, Sir John Browne, James A. Johnson, John H. Bryan and Ruth J. Simmons
is 85 Broad Street, New York, NY 10004. The business address of John L. Thornton
is 133 Fleet Street, London EC4A 2BB, England. The business address of Sir John
Browne is BP Amoco plc, Brittanic House, 1 Finsbury Circus, London EC2M,
England. The business address of James A. Johnson is Johnson Capital Partners,
600 New Hampshire Avenue, NW, Suite 620, Washington, D.C. 20037. The business
address of John H. Bryan is Three First National Plaza, Chicago, IL 60602-4260.
The business address of Ruth J. Simmons is Office of the President, Smith
College, College Hall Room 20, Northhampton, MA 01063.
Each person is a citizen of the United States of America except for Sir
John Browne, who is a citizen of the United Kingdom. The present principal
occupation or employment of each of the listed persons is set forth below.
Name Present Principal Occupation
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Henry M. Paulson, Jr. Chairman and Chief Executive Officer of The Goldman
Sachs Group, Inc.
Robert J. Hurst Vice Chairman of The Goldman Sachs Group, Inc.
John A. Thain President and Co-Chief Operating Officer of The Goldman
Sachs Group, Inc.
John L. Thornton President and Co-Chief Operating Officer of The Goldman
Sachs Group, Inc.
Sir John Browne Group Chief Executive of BP Amoco plc
James A. Johnson Chairman and Chief Executive Officer of Johnson Capital
Partners
John H. Bryan Chairman and Chief Executive Officer of Sara Lee
Corporation
Ruth J. Simmons President of Smith College
John L. Weinberg Senior Chairman of The Goldman Sachs Group, Inc.
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<PAGE>
SCHEDULE II
-----------
The name, position and present principal occupation of each director and
executive officer of Goldman Sachs Global Holdings L.L.C., which is the sole
general partner of Goldman Sachs Credit Partners, L.P., are set forth below.
The business address for all the executive officers and directors listed
below is 85 Broad Street, New York, New York 10004.
All executive officers and directors listed below are United States
citizens.
Name Position Present Principal Occupation
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Robert J. Katz Director Senior Counsel of
The Goldman Sachs Group, Inc.
Esta E. Stecher Director/Secretary Managing Director of
Goldman, Sachs & Co.
Dan H. Jester Director Managing Director of
Goldman, Sachs & Co.
James B. McHugh Assistant Secretary Vice President of
Goldman, Sachs & Co.
Beverly L. O'Toole Assistant Secretary Vice President of
Goldman, Sachs & Co.
Elizabeth E. Beshel Assistant Treasurer Managing Director of
Goldman, Sachs & Co.
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<PAGE>
SCHEDULE III
------------
On April 6, 2000, in connection with an industry-wide investigation by the
Securities and Exchange Commission (the "SEC") relating to the pricing of
government securities in advance refunding transactions, Goldman, Sachs & Co.
(the "Firm") joined in a global settlement resolving the SEC investigation as
well as a related qui tam lawsuit purportedly brought on behalf of the United
States entitled United States ex rel. Lissack v. Goldman, Sachs & Co., et al.,
95 Civ. 1363 (S.D.N.Y.)(BSJ). Pursuant to the settlement, without admitting or
denying the findings, the Firm consented to the issuance of an SEC
administrative order (SEA Rel. No. 42640) which, among other things, found that
the Firm had violated Sections 17(a)(2) and (3) of the Securities Act of 1933 in
connection with such pricing of government securities, required the Firm to
cease and desist from violating such provisions, and ordered the Firm to make
payments totaling approximately $5.1 Million to the U.S. Treasury and $104,000
to two municipalities. Under the global settlement, the qui tam lawsuit was
dismissed with prejudice, and the Internal Revenue Service agreed not to
challenge the tax-free nature of the refundings by virtue of the pricing of such
securities.
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